Change - Announcement of Cessation::Retirement of Independent Director

Issuer & Securities

Issuer/ Manager
SIM LEISURE GROUP LTD.
Securities
SIM LEISURE GROUP LTD. - SGXE75616446 - URR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
25-Feb-2025 18:23:18
Status
New
Announcement Sub Title
Retirement of Independent Director
Announcement Reference
SG250225OTHR3PQS
Submitted By (Co./ Ind. Name)
Dato' Sim Choo Kheng
Designation
Executive Chairman
Description (Please provide a detailed description of the event in the box below)
Retirement of Mr. Chung Yew Pong as Lead Independent Director, Chairman of the Audit Committee and Remuneration Committee, and a member of the Nominating Committee

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Shervyn Essex, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg.

Additional Details

Name Of Person
Chung Yew Pong
Age
52
Is effective date of cessation known?
Yes
If yes, please provide the date
28/04/2025
Detailed Reason (s) for cessation
Mr. Chung Yew Pong ("Mr. Chung"), who is retiring pursuant to Regulation 108 of the Constitution of the Company, will not be seeking re-election as a Director of the Company at the Company's forthcoming Annual General Meeting ("AGM") to be held on 28 April 2025 to focus on personal and family commitments. Accordingly, Mr. Chung will retire from his role as Lead Independent Director of the Company and relinquish his positions as Chairman of the Audit Committee and Remuneration Committee, and a member of the Nominating Committee upon the conclusion of the AGM.

The Company will release an announcement on the updated Board and the respective committees' composition when it has been finalised.

After having interviewed Mr. Chung and to the best of its knowledge, the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the retirement of Mr. Chung as the Lead Independent Director of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
24/12/2018
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Lead Independent Director, Chairman of Audit Committee and Remuneration Committee, member of Nominating Committee
Role and responsibilities
Roles and responsibilities of the Lead Independent Director, Chairman of Audit Committee and Remuneration Committee, member of Nominating Committee
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Direct Interest: 10,000 ordinary shares in the Company
Other Directorships
Past (for the last 5 years)
- Cadence Venture Capital Sdn. Bhd.
Present
- True Vine Capital Partners Pte. Ltd.
- Incitable Digital Asia Sdn. Bhd.
- CPA Australia Ltd.